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Procurement- Definition
Learning ObjectivesProcurement- Definition
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Procurement refers to the process by which governments and state-owned enterprises purchase goods and services from the private sector.
Procurement” means acquisition by way of purchase, lease, license or otherwise, either using public funds or any other source of funds (e.g. grant, loans, gifts, private investment etc.) of goods, works or services or any combination thereof.
Resources
1. Manual for procurement of goods; Ministry of Finance, GoI 2017.
Assessment
| Question | Answer 1 | Answer 2 | Answer 3 | Answer 4 | Correct answer | Correct explanation | Page id | Part of Pre-test | Part of Post-test |
| What does procurement include? | Buying and process of buying | Tendering | Acquiring goods from an external source | All of the above | 4 | Procurement refers to the process by which governments and state-owned enterprises purchase goods and services from the private sector. | Yes | Yes |
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